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In the latest trading session, Qualcomm (QCOM) closed at $181.97, marking a +2.88% move from the previous day.
Qualcomm's handset business is shrinking while its automotive and data center ambitions are scaling fast, and the tension between those two forces will determine whether the stock revisits its highs or stalls out entirely.
Advanced Micro Devices is rapidly expanding its data center presence through strategic AI partnerships and infrastructure acquisitions. Qualcomm is diversifying its revenue streams by shifting focus from mobile handsets to automotive and AI-native data centers.
Shares of Skyworks Solutions (NASDAQ:SWKS | SWKS Price Prediction) are up 7% to $89.64 in Friday morning trading, notching a second straight session of gains.
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Qualcomm began shipping its Centriq server processor in November 2017 and had all but dismantled the effort by the end of 2018. Amazon's new agreement ties warrant vesting to binding purchase orders and up to $60 billion in purchases through 2036.
Qualcomm is rated Buy and Marvell, Hold, as QCOM offers superior risk-adjusted upside despite MRVL's stronger current AI business. QCOM's valuation allows for margin and execution misses, with a $298 FY2029 price target (69% upside), while MRVL's price already assumes near-flawless execution. MRVL's $120B Google opportunity is not committed backlog; revenue timing, margin structure, and dilution from warrants are critical uncertainties.
Piper Sandler is drawing a clear line between two semiconductor stocks, recommending Advanced Micro Devices (AMD) while taking a more cautious stance on Qualcom